Europe to follow major central banks by publishing minutes December 18, 2014 THE EUROPEAN Central Bank (ECB) yesterday confirmed it would publish minutes of its monetary policy meetings from January’s meeting onwards. Up until now it has been a mystery what European officials have discussed when deciding the level of interest rates. The January meeting will be held on the 22nd while the minutes will be released four [...]
Confidence up in Germany December 18, 2014 BUSINESS confidence in Germany – the Eurozone’s largest economy – has edged up, but remains at low levels. The Ifo business climate index climbed to 105.5 in December from 104.7 in November, according to figures released by German think tank Ifo yesterday. Despite the increase it remains only slightly above the 22-month low of 103.2 [...]
Eurozone lift in construction December 18, 2014 CONSTRUCTION output in the Eurozone increased by 1.3 per cent month-on-month in October. However, construction output is only 1.4 per cent higher than in October 2013 and remains far below pre-recession levels, according to the figures released yesterday by official European data office Eurostat.The sector typically makes up between five and 10 per cent of [...]
Top Marx for public infrastructure funds December 18, 2014 A NEW research paper from an International Monetary Fund economist entitled Das Public Kapital argues that higher public infrastructure investment in Germany would boost GDP by boosting demand in the short run and supply potential in the long run.
Apax offloads Swiss mobile firm for £1.8bn December 18, 2014 NJJ CAPITAL, the private holdings firm of French telephone tycoon Xavier Niel, agreed yesterday to buy mobile operator Orange Switzerland from private equity firm Apax Partners in a SFr2.8bn (£1.8bn) deal. Orange Switzerland, the country’s third largest mobile phone provider, has become a challenger in the Swiss market to rival company Swisscom, which controlled 60 [...]
AstraZeneca receives thumbs up for drug December 18, 2014 DRUG maker AstraZeneca rewarded the faith of investors in the company yesterday after its pioneering ovarian cancer drug was approved for use across Europe. The FTSE 100 pharmaceutical company highlighted its industry-leading cancer drugs earlier this year to counter a £70bn takeover bid from US rival Pfizer. The new cancer drug, Lynparza, is the first [...]
Shell sells Norwegian units to St1 and enters joint venture in Scandinavia December 18, 2014 Shell announced the sale of parts of its Norwegian operations to Finnish energy firm St1 yesterday for an undisclosed fee, further divesting its downstream activities. Shell will sell its retail, commercial fuels, and supply and distribution logistics businesses to the Helsinki-based firm, which already owns Shell-branded petrol station in Finland and Sweden. [...]
Debt manager ordered to pay compensation December 18, 2014 DEBT management firm Harrington Brooks yesterday agreed to pay customers £185,000 after its sluggish services added fees and interest costs to vulnerable borrowers. The firm was supposed to help struggling customers manage their debts. But the Financial Conduct Authority (FCA) found it was slow to contact creditors, which meant the interest and charges on the debts was [...]
Macmillan gives cancer patients a lending hand December 18, 2014 THIS CHRISTMAS, CITY A.M. IS PRESENTING FIVE OF ITS FAVOURITE CHARITIES TO INSPIRE READERS’ CHARITABLE GIVING – OUR FINAL CHARITY IS MACMILLAN NO ONE should face cancer alone – this is Macmillan Cancer Support’s mantra and it’s one which resonates with millions of people in the UK; most of us know someone who has been [...]
Is 65 too young? London professionals retire later than those in the rest of the UK December 18, 2014 Professionals in London are increasingly likely to believe that a retirement age of 65 or below is too young, according to an Investec Private Bank study published yesterday. Across the country, 72 per cent of professionals think it is appropriate to retire between 60 and 65. By contrast in London, only 51 per cent [...]
